Hakusensha was founded on December 1, 1973 by Shueisha, but is now a separate company although still a part of the Hitotsubashi Group together with Shueisha and Shogakukan as one of the major members of the keiretsu.

After setting up the company for 5 months, the firm published their first magazine, a shōjo manga magazine titled as Hana to Yume (花とゆめ) and in November that year, they moved from Tōkyō-to, Chiyoda-ku, Kanda-Jinbōchō Ichi-chōme (東京都千代田区神田神保町1丁目) to Kanda-Jinbōchō San-chōme (神田神保町3丁目).